Jenkinson and Wales midfield man Aaron Ramsey have all signed new five-year contracts.

Arsenal will shell out £75m in wages over the course of their bumper new deals.

Wenger is convinced it will be money well spent because his Brits will form the foundation of his side.

The Gunners boss said: “Gibbs, Jenkinson, Oxlade-Chamberlain, Ramsey and Wilshere represent a core of the squad.

“I’m a strong believer in stability and when you have a core of British players, it’s always easier to keep them together and that’s what we’ll try to achieve going forward.

“The plan is to build a team around a strong basis of young players, in order to get them to develop their talent at the club.”

Midfield star Wilshere, 20, is earmarked as a future Arsenal captain. He has agreed an £80,000-a-week deal, while winger Oxlade-Chamberlain, 20, and Ramsey, 21, have re-signed for around £60,000 a week.

Left-back Gibbs, the eldest of the five at 23, signed a £50,000-a-week deal, while right-back Jenkinson, 20, agreed a £35,000-a-week wage.

Wenger will now step up his efforts to make Theo Walcott, the sixth Brit to commit.

Manchester rivals United and City, Liverpool and Chelsea are all monitoring the 23-year-old England star’s situation, with his contract ending next summer.

But Chelsea have shelved plans to bid in January and are prepared to wait and see if Walcott becomes a free agent at the end of the season.

Arsenal’s Boxing Day clash with West Ham has been postponed because of the London underground strike.